Job cuts in IT sector likely if biz climate doesn't improve soon: Nasscom

Many of the industry's clients closed their set-ups globally as part of containment measures to check coronavirus. Travel and hospitality, aviation, retail, auto and manufacturing hit the hardest

Indian IT services companies may have to resort to job cuts to ratonalise costs in the short term if the global economy doesn’t improve in the next three quarters, industry body Nasscom has said.

However, companies may be compelled to take this route for survival as the “last option”, given the importance of talent for the industry, Nasscom President Debjani Ghosh said in an interaction. “As economy continues to get impacted, there will be business impact. We have to do cost rationalisation whether we like it or not. So, in the short run, I definitely see some level of impact and